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The Invisible Hands: Hedge Funds Off the Record - Rethinking Real Money
     

The Invisible Hands: Hedge Funds Off the Record - Rethinking Real Money

by Steven Drobny, Nouriel Roubini (Foreword by)
 

Timely investment advice from the investors who survived—and thrived—during the economic crisis

In light of the colossal losses and ongoing difficulties caused by the financial crisis, it's obvious that the time has come to rethink money management in the broadest of terms. Drastic changes are clearly in order, but no new model has yet been

Overview

Timely investment advice from the investors who survived—and thrived—during the economic crisis

In light of the colossal losses and ongoing difficulties caused by the financial crisis, it's obvious that the time has come to rethink money management in the broadest of terms. Drastic changes are clearly in order, but no new model has yet been implemented. Steven Drobny explores a new model from a simple starting point—by consulting the traders and managers who actually made money during this profoundly difficult period. In The Invisible Hands, top global macro managers reveal their own (clearly successful) approaches to markets and risk, suggesting important tenets for money management in a future, precarious world.

Providing money managers and investors with the proven expertise of the best and most successful players in money management and detailing many specific elements of their risk management processes, The Invisible Hands:

  • Outlines investment strategies for the rocky road ahead
  • Provides guidance on how real money managers can implement certain elements of macro hedge fund strategies, developing a new paradigm of portfolio construction anchored in superior risk management
  • Reveals intimate aspects of the investment processes of some of today's top hedge fund managers

The book highlights the similarities among successful traders, showing that the investment process should be anchored in understanding the true risk-adjusted returns in your portfolio.

Editorial Reviews

From the Publisher
"ARE YOU MORE CONCERNED, to paraphrase Mark Twain, with the return of your money than the return on your money? If so, a new book, The Invisible Hands, might be of interest. Written by Steven Drobny, founder of hedge-fund consultant Drobny Global Advisors, the book, subtitled Hedge Funds Off the Record — Rethinking Real Money, focuses on the mistakes made and lessons learned in the financial crisis of 2008. The author says pension funds, endowments, foundations and other institutional investors must adopt a forward-looking, risk-based approach to investing, especially if they have annual cash needs." (Barron's, May 31, 2010)

"Wildly enjoyed reading this solely for the vast amount of information and advice divulged.... The insight divulged in part two of is priceless.... Many books that have come out of the financial crisis focus on learning from mistakes. On the other hand, Drobny's book pinpoints managers who fared well in 2008 as they were either able to preserve capital or grow it. This allows readers to learn from those who found success during a time when many others failed.... We treasured The Invisible Hands: Hedge Funds Off the Record and highly recommend it to anyone looking to learn from top hedge fund managers. We found the book's particular focus on global macro strategies especially intriguing given that the majority of the coverage on our site centers on long/short equity hedge funds. Those of you looking for a peephole into the fast paced world of global macro would find this book advantageous. And if you manage money, then Drobny's new boook is simply a must read." (Marketfolly.com)

Product Details

ISBN-13:
9780470607534
Publisher:
Wiley
Publication date:
04/05/2010
Pages:
384
Product dimensions:
9.28(w) x 6.42(h) x 1.49(d)

Meet the Author

Steven Drobny is the founder of Drobny Global Asset Management, a full-service asset management, investment advisory, and consulting firm focused on global macro and commodity hedge fund strategies.  He is also the author of the critically acclaimed The Invisible Hands: Top Hedge Funds on Bubbles, Crashes and Rethinking Real Money (Wiley) and Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets (Wiley). Please visit www.drobnycapital.com for more information on Mr. Drobny and his books.

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